Matrix Asset Advisors

Q4 2019 13F · by David Katz, CIO

As of: Dec 31, 2019
Filed: Feb 10, 2020
US stock: $613M · prev $565M
Positions: 76 · prev 75
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves72 since the prior filing

+4.2 pp in · −4.2 pp out

New 5 +2.91 pp
Added 32 +1.28 pp
Trimmed 31 −1.65 pp
Exited 4 −2.54 pp

The book

Focused · behaves like 37 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 24% a year, about 4.2 years per position

Low
Moderate
High

Top 5 positions23% of US stock

Positions76 in this filing · 4 exited


JPMJPMorgan Chase & Co.	5.53%	243,194	$34M	trimmed−2%	+0.38 pp	27 q
MSFTMicrosoft Corp	5.18%	201,362	$32M	trimmed−1%	+0.20 pp	27 q
WFCWells Fargo & Co.	4.16%	473,184	$25M	added+1%	−0.02 pp	27 q
ETNEaton Corporation, plc	4.11%	265,982	$25M	trimmed−1%	+0.15 pp	24 q
ABBVAbbvie Inc.	4.09%	283,110	$25M	trimmed−0%	+0.29 pp	17 q
CSCOCisco Systems, Inc. (DE)	3.72%	474,619	$23M	added+18%	+0.22 pp	27 q
CVSCvs Health Corporation	3.64%	300,087	$22M	added+8%	+0.54 pp	27 q
GILDGilead Sciences Inc	3.43%	323,426	$21M	added+11%	+0.16 pp	23 q
METMetLife, Inc.	3.36%	403,852	$21M	added0%	0.00 pp	27 q
TFCTruist Financial Corporation	3.27%	355,713	$20M	added0%	−0.07 pp	27 q
PARAParamount Global-class B	2.41%	351,556	$15M	new	+2.41 pp	new
QCOMQualcomm Inc	2.35%	163,045	$14M	trimmed−34%	−0.96 pp	26 q
GOOGAlphabet Inc. Class C	2.32%	10,608	$14M	trimmed−2%	−0.02 pp	15 q
PEPPepsiCo, Inc.	2.15%	96,551	$13M	trimmed−1%	−0.22 pp	27 q
KELKellanova	2.14%	189,214	$13M	added+10%	+0.19 pp	3 q
TMOThermo Fisher Scientific, Inc.	2.03%	38,355	$12M	trimmed−5%	−0.06 pp	27 q
MSMorgan Stanley	2.01%	240,762	$12M	trimmed−2%	+0.16 pp	27 q
TAT&T Inc.	1.95%	305,642	$12M	added+3%	−0.04 pp	27 q
CMCSAComcast Corp	1.90%	259,527	$12M	trimmed−1%	−0.19 pp	17 q
STTState Street Corporation	1.89%	146,762	$12M	trimmed−3%	+0.31 pp	27 q
OXYOccidental Petroleum Corporation	1.88%	279,905	$12M	added+5%	−0.21 pp	27 q
0VQJLTe Connectivity Ltd	1.88%	120,360	$12M	trimmed−2%	−0.15 pp	27 q
VZVerizon Communications	1.86%	186,039	$11M	added+2%	−0.09 pp	25 q
ZBHZimmer Biomet Holdings, Inc.	1.79%	73,118	$11M	trimmed−2%	−0.02 pp	27 q
GSGoldman Sachs Group Inc.	1.76%	46,799	$11M	added+1%	+0.06 pp	13 q
EBAYeBay Inc	1.73%	292,849	$11M	added+44%	+0.33 pp	6 q
HDHome Depot, Inc.	1.73%	48,508	$11M	added+19%	+0.06 pp	4 q
GISGeneral Mills, Inc.	1.70%	194,436	$10M	added+5%	−0.11 pp	27 q
KMBKimberly-Clark Corp.	1.65%	73,621	$10M	added+19%	+0.10 pp	27 q
COFCapital One Financial	1.59%	94,949	$10M	trimmed−3%	+0.02 pp	27 q
PNCPNC Financial Services Group	1.56%	59,796	$10M	added+2%	+0.11 pp	4 q
RDS.BRoyal Dutch Shell PLC	1.54%	156,965	$9M	added+2%	−0.09 pp	27 q
AAPLApple Inc.	1.53%	32,017	$9M	trimmed−3%	+0.23 pp	26 q
SLBSLB Limited	1.53%	232,702	$9M	trimmed−19%	−0.20 pp	27 q
MRKMerck & Co., Inc.	1.50%	101,270	$9M	added+1%	+0.01 pp	27 q
MDLZMondelez International, Inc. Class A	1.42%	158,313	$9M	added+2%	−0.10 pp	15 q
UPSUnited Parcel Service, Inc. Class B	1.31%	68,391	$8M	trimmed−27%	−0.68 pp	27 q
FDXFedEx Corporation	1.29%	52,114	$8M	added+18%	+0.16 pp	3 q
GENGen Digital Inc.	1.06%	254,892	$7M	trimmed−1%	−0.02 pp	8 q
CVXChevron Corporation	1.02%	51,837	$6M	trimmed−4%	−0.11 pp	27 q
METAMeta Platforms, Inc. Class A	0.92%	27,556	$6M	trimmed−1%	+0.04 pp	6 q
XOMExxon Mobil Corp	0.87%	76,008	$5M	added+3%	−0.05 pp	27 q
JNJJohnson & Johnson	0.81%	33,877	$5M	trimmed−22%	−0.19 pp	27 q
IBMInternational Business Machines Corporation	0.70%	31,897	$4M	added+5%	−0.08 pp	27 q
DVNDevon Energy Corporation	0.66%	156,811	$4M	trimmed−5%	−0.04 pp	27 q
UTXZRTX Corporation	0.58%	23,631	$4M	trimmed−48%	−0.51 pp	27 q
IEZiShares U.S. Oil Equipment & Services ETF	0.39%	117,311	$2M	new	+0.39 pp	new
PGProcter & Gamble Company	0.25%	12,497	$2M	trimmed−12%	−0.06 pp	27 q
IWBiShares Russell 1000 ETF	0.16%	5,545	$989,000	held	—	5 q
IWMiShares Russell 2000 ETF	0.14%	5,352	$887,000	added+10%	+0.01 pp	20 q
BMYBristol-Myers Squibb Co.	0.12%	11,700	$751,000	trimmed−5%	+0.01 pp	10 q
ISTBiShares Core 1-5 Year USD Bond ETF of iShares Trust	0.12%	14,988	$755,000	added×3.2	+0.08 pp	2 q
SHYiShares 1-3 Year Treasury Bond ETF	0.10%	7,077	$599,000	added×2.4	+0.06 pp	2 q
EFGiShares MSCI EAFE Growth ETF	0.10%	7,064	$611,000	trimmed−4%	0.00 pp	17 q
BRK.BBERKSHIRE HATHAWAY Class B	0.09%	2,383	$540,000	added0%	0.00 pp	27 q
CGENCompugen Ltd	0.09%	94,500	$563,000	held	—	25 q
IVViShares Core S&P 500 ETF	0.08%	1,587	$513,000	held	—	7 q
EFAiShares MSCI EAFE ETF	0.08%	6,620	$460,000	added+24%	+0.02 pp	2 q
SHViShares Trust iShares 0-1 Year Treasury Bond ETF	0.08%	4,690	$518,000	added×2.4	+0.04 pp	2 q
AXPAmerican Express Company	0.06%	2,873	$358,000	held	—	27 q
SDYState Street SPDR S&P Dividend ETF	0.06%	3,444	$371,000	added+11%	0.00 pp	7 q
AFLAflac Inc.	0.05%	6,201	$328,000	held	—	27 q
AMZNAmazon.Com Inc	0.05%	173	$320,000	trimmed−3%	0.00 pp	5 q
BABoeing Company	0.05%	910	$296,000	trimmed−2%	−0.01 pp	9 q
OPKOpko Health Inc.	0.05%	200,000	$294,000	added+33%	−0.01 pp	3 q
BSVVanguard Short-Term Bond ETF	0.05%	3,672	$296,000	added+22%	+0.01 pp	2 q
IGSBiShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	0.04%	4,831	$259,000	new	+0.04 pp	new
IEIiShares 3-7 Year Treasury Bond ETF	0.04%	1,785	$224,000	new	+0.04 pp	new
IEMGiShares Core MSCI Emerging Markets ETF	0.04%	4,517	$243,000	trimmed−4%	0.00 pp	2 q
VUGVanguard Morningstar Growth ETF	0.04%	1,317	$240,000	held	—	2 q
WMTWalmart Inc.	0.04%	2,000	$238,000	trimmed−13%	−0.01 pp	27 q
JPSTJPMorgan Ultra-Short Income ETF	0.03%	4,250	$214,000	new	+0.03 pp	new
SRNESorrento Therapeutics Inc	0.03%	50,000	$169,000	trimmed−17%	+0.01 pp	26 q
VIGVanguard Dividend Appreciation ETF	0.03%	1,705	$213,000	added0%	−0.01 pp	2 q
PSDVEyepoint Pharmaceuticals Inc	0.01%	26,500	$41,000	held	—	7 q
unresolvedCinedigm Corp	0.00%	12,365	$9,000	held	—	9 q
VIABViacom Inc. Class B	—	−450,482	—	exited	−1.91 pp	—
unresolvedCBS Corp	—	−82,356	—	exited	−0.59 pp	—
PFEPfizer Inc.	—	−5,646	—	exited	−0.04 pp	—
ASNAAscena Retail Group Inc	—	−1,663	—	exited	0.00 pp	—